Shares of First Horizon National Corp (NYSE:FHN) have been given a consensus rating of “Buy” by the sixteen analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $22.09.
Several brokerages have recently issued reports on FHN. FIG Partners upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating in a report on Monday, April 16th. Piper Jaffray Companies began coverage on shares of First Horizon National in a report on Monday, April 9th. They issued an “overweight” rating and a $22.00 target price for the company. Hovde Group set a $21.00 target price on shares of First Horizon National and gave the company a “hold” rating in a report on Monday, April 16th. Wells Fargo & Co upgraded shares of First Horizon National from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Thursday, April 5th. Finally, UBS Group began coverage on shares of First Horizon National in a report on Thursday, March 22nd. They issued a “buy” rating and a $25.00 target price for the company.
Large investors have recently modified their holdings of the stock. Oak Hill Capital Management LLC acquired a new stake in First Horizon National during the 4th quarter worth $107,835,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of First Horizon National by 54.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,361 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 5,073 shares during the period. First Interstate Bank acquired a new stake in shares of First Horizon National in the 4th quarter worth $103,000. New Mexico Educational Retirement Board acquired a new stake in shares of First Horizon National in the 4th quarter worth $1,600,000. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of First Horizon National by 2.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,733,922 shares of the financial services provider’s stock worth $34,661,000 after acquiring an additional 33,639 shares during the period. Hedge funds and other institutional investors own 82.93% of the company’s stock.
Shares of First Horizon National stock traded up $0.02 during trading hours on Friday, hitting $19.10. The company had a trading volume of 3,794,100 shares, compared to its average volume of 3,427,280. First Horizon National has a twelve month low of $15.84 and a twelve month high of $20.86. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.86 and a beta of 0.98.
First Horizon National (NYSE:FHN) last issued its earnings results on Friday, April 13th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.04. First Horizon National had a net margin of 12.30% and a return on equity of 9.37%. The business had revenue of $437.20 million during the quarter, compared to analysts’ expectations of $438.60 million. During the same quarter in the prior year, the business posted $0.23 EPS. The company’s revenue for the quarter was up 42.6% on a year-over-year basis. analysts forecast that First Horizon National will post 1.47 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 8th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date is Thursday, June 7th. First Horizon National’s dividend payout ratio is currently 43.24%.
First Horizon National Company Profile
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services. It operates through four segments: Regional Banking, Fixed Income, Corporate, and Non-Strategic. The company offers general banking services for consumers, businesses, financial institutions, and governments.
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